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Wednesday, July 18, 2012

Essay on Shadowing Entrepreneur

Essay on Shadowing Entrepreneur

In order to learn more about spa business, it is advisable not only to read theoretical material but search for opportunities to see how spa business plans are applied to life.

DAY spa is a prosperous multimillion company which sells medical cosmetics and provides a wide range of procedures and massage techniques. It has many subsidiaries and branches in different corners of the world. DAY spa Company has been successfully working for 4 years already. Firstly it’s important to investigate the location of spa saloon. It would show strong and weak points according to service variety, profit and quality. The saloon we visited numbers tens of competitors in different districts. A short visit to one of such saloons showed list of service, pricelist, convenience, advertising system, quality of equipment, cosmetics etc. I got to know that it’s often more convenient to buy second-hand equipment which attracts clients by lower price. Repair and improvement of saloon equipment is similar to car market. It’s always quite possible to find proper equipment which was already used in some other saloon. If something goes wrong, it is always possible to sell equipment. DAY spa saloon has chosen rational distribution of finances and minimum of risk.

A lot of entrepreneurs become involved in spa-business, even though it’s not the most profitable business. The starting period requires much effort and lasts for at least one or two years. It is very important to consider every step of business development very carefully. According to statistics most enterprises failed because of mistakes at the very beginning. That’s why before starting up a business one should make clear plan of actions, target marketing, future profits and expenses.

The target marketing of DAY spa saloon consists of people who care about their appearance and health. With the help of modern equipment and new technologies spa specialists are able to fulfill the most sophisticated desires. The DAY spa saloon uses elements of alternative and traditional medicine. The staff consists of cosmeticians, dermatologists, hair-dressers, barbers, massagers, administrators and consultants.

A fascinating aspect for me was the system of advertising. The saloon we visited gained popularity among people of different age. I consider it the merit of proper advertising. It helps to attract more clients and raise prestige among competitive saloons. Advertisements on TV, big boards, in magazines, newspapers and other publications will be of great use if an entrepreneur wants to promote his business in a short period of time. Saloon business requires over 10,000$ for advertising. But steady clients and public acknowledgement will later cover these expenses.

The most stressful and routine responsibility of spa owners often turns out to be book-keeping, maintenance and repair of the saloon. The easiest way to distract personal and colleagues from difficulties is to make everybody busy with certain part of job. When people are engaged in work, they have no time for emotional stress. Problems occur when there is time to think of them. The most difficult period for spa-saloon is the beginning of the year. In January for example there are fewer clients and profitability begins to decline. Personnel have little job and start worrying about salary. The main task of managers here is to help personnel to get used to slower rhythm of work.

Having observed the spa-business from different prospects, I should admit that innovations in spa sphere contributed to its success. For example a new kind of music therapy was developed and contributed to saloon popularity. Music helps to relax and clear out negative emotions. It is also efficient to combine different therapies. New technologies give an opportunity to feel absolute harmony and satisfaction.

It was exciting for me to examine the financial well-fare of spa business. I should say that although DAY spa saloon is rather prosperous, I would change some aspects in it. I think that accessory sale defines the profitability to some extent.
Customers who buy cosmetics in spa saloons bring 78% more profit. This fact is enough to get interested in distribution of additional production, but there is one more factor: clients sometimes spend more money for cosmetics than the procedure itself. It brings quite a significant profit. Besides sale of attendant goods makes clients visit the saloon more frequently.

But for me personally it would be difficult to set things going. That’s why I’ll probably hire a consultant, who would help me to organize everything properly. Sometimes too small territory, lack of skillful sellers and specialists hamper to develop business, and may even ruin it. I understood how important it is to decide the plan of actions, the line of business and the marketing strategy. If I owned a spa business I would correlate sale of medicines and accessory with the saloon profile. The saloon I visited offered relaxation procedures, skin care and massage. It provided goods which were supposed to create a feeling of spa-procedure at home.

The main point of every business is to sell necessary goods for appropriate price. It would undoubtedly bring success. Spa business can be highly profitable if to arrange it properly. Creativity, initiative and new technologies influence the success of this business. But it’s worth organizing as the rewards will be really tangible. The profitability depends on sale price and expenses. The spa-saloon provides service for nearly 300 clients, which is 20,000$ of steady income. Rewards become tangible in 2 years. Steady clients pay hundreds of dollars for one procedure. Additional trade also contributes to business prosperity.

But each business has periods of success and fall. Even the most successful saloons face problems from time to time. Although I consider this business highly profitable and I would like to pursue it as a future start-up, I understand that it’s not easy to overcome crisis without financial losses. In order to haul business out of mess, it is important to see better perspective even in misfortunes. There should be constant motivation to move forward and develop business despite temporary troubles.

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